Lonnie Glessner's (lonnieglessner) Blog

The second solution to the Mortgage Mess is happily beginning already. Finally, at both the state and federal levels of government the government is starting to police the mortgage industry better. Here are the changes that I recommend for my industry at the grass roots level- •1)   Licensing for...

In my previous 12 posts I talked about the 21 reasons for this Mortgage Mess. Now I want to discuss how we as Americans can make sure it does not happen again. The single most powerful idea that each of us has direct control over is our own financial literacy. In just 4 or 5 hours of writing time...

Besides the forcing of the Community Reinvestment Act or CRA on steroids onto Fannie and Freddie and thousands of banks by President Clinton's administration and the complete lack of oversight by Congress over Fannie and Freddie because of the $200 million doled out to Congress members and their ...

In 1999 Treasury Secretary under President Clinton, Lawrence Summers "warned Congress in 1999 of the ‘systemic risks' posed by Fannie and Freddie, Congress held hearings the next year" according to Terry Jones of Investor's Business Daily. Nothing was done however. In 2000 the Mr. Summers' UnderS...

I believe the number one reason for my success this year and this year has been my best year ever financially, is the training I have received from Achievement Dynamics, which is part of Sandler Sales Training. Debbie Scott my coach will be my next speaker for my Business Success Lunch on Novembe...

Each week I write a newsletter that I email to my referral partners and i have received hundreds of compliments in the last year for my newsletter from Realtors. Thus, I thought I want to share it with you the Active Rain Community which I just joined this year. Please let me know what you think....

Mortgage Mess Part 9  Who was in charge of being the watchdog for Fannie Mae and Freddie Mac. Who was protecting our interests and money as taxpayers? Until the Treasury's takeover of Fannie and Freddie this September it was OFHEO or the Office of Federal Housing Enterprise Oversight, which was a...

According to today's Realty Trac Report on foreclosure activity around the country, Realty Trac reported that both Colorado's and Denver's foreclosure activity have dropped for 2 quarters in a row! This is great news! In the third quarter foreclosure filings of all types dropped 11% from the 2nd ...

"Affordable Mortgages" Led to Un-Affordable Home Prices In 1999 David Glenn the President and COO of Freddie Mac "confessed his company was pushed by a federal agenda." (Source: Drew Zahn at World Net Daily 9/19/08) Here are 3 direct quotes from Mr. Glenn according to Drew Zahn- •·         "The m...

CRA on Steroids  In 1994 President Clinton rewrote the Community Reinvestment Act or CRA of 1977. It was called the National Homeownership Strategy. Why? To help more "deserving" minority families buy a home-a noble idea. At this time the national homeownership rate was about 64% according to The...